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Insurance on my 2014 M6 Cabrio is also around $1200 per year, actually a little less. The determining factor according to my insurance company, is whether or not a high performance car has a back seat or not. With back seat = lower insurance cost.

Depends on your state, driving record, and applicable discounts (earned or affiliate ... e.g. BMWCCA partner insurance company). In NJ, with a clean driving record, very high credit score (840+ ... yes, this still factors in), multiple cars and home on the policy, and BMWCCA discount ... the full-coverage [$500 deductible C&C] premium difference between a 535xDrive sedan and M6 GT would have jumped from $1800/yr -> $3200/yr - JUST for that car ! I can't imagine if I had any chargeable accidents or points what it would be :-(